RATE Group | French Lawmakers Adopt Amendment to Cut Cryptocurrency Tax From 36 to 30 Percent
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French Lawmakers Adopt Amendment to Cut Cryptocurrency Tax From 36 to 30 Percent

08 Nov French Lawmakers Adopt Amendment to Cut Cryptocurrency Tax From 36 to 30 Percent

Posted at 05:50h in Cryptocurrency News by

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French Lawmakers to Lower Cryptocurrency Tax by 6 Percent

Taxes

French lawmakers have adopted an amendment to the 2019 budget bill that will cut capital gains tax on bitcoin sales to 30 percent from 36.2 percent. This will bring cryptocurrency transactions in line with other non-real estate assets, which are taxed at a flat rate of 30 percent.

Also Read: Survey: South Africans Turn to Crypto as Hedge Against Volatility of the Rand

Amendment Awaits Approval by Parliament

The budget amendment was adopted by a finance commission in France’s lower house of parliament, a Reuters report said. But it must first be approved “in the final version of the budget bill by the broader parliament in order to become law.” If approved, the new tax will come into force in  January.

French Lawmakers to Lower Cryptocurrency Tax by 6 Percent

At one point, cryptocurrency taxes in…

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